Insights
The archive, newest first — posts 551–575 of 719. The 8 most recent are on the front. ← The newest analysis
Case update
Canada Tire: sixty thousand tires, and a telex nobody has sent
Nine days into Canada Tire's CCAA, the Monitor reports that 19.7% of the winter tire bookings are unsecured and that containers already owned by the company are sitting at the Port of Vancouver. Justice Castonguay doubled the interim facility and ordered a supplier to keep shipping.
Case update
Islington Avenue: the higher bidders are asked to pay the difference
The receiver of five Islington Avenue lots in Toronto wants judgment against the two bidders whose offers topped the $2,625,000 sale it closed on December 30, 2025. 1001079582 Ontario Inc. says it withdrew before the receiver accepted; 1604706 Ontario Inc. says its unpaid deposit meant it never made a qualified bid.
Filing brief
King David: the Cathedraltown parcel goes to market unpriced
The lender that took an assignment in April of a $5 million loan King David Inc. did not repay at maturity had AlixPartners appointed receiver of the company's vacant 1.48-acre Cathedraltown parcel in Markham on July 9; on July 30 the court approved an unpriced Cushman & Wakefield listing, with offers tentatively due September 17.
Outcome brief
Mayrand: a Sobeys subsidiary buys in, and $6.965 million is left for the rest
Founded in Montréal in 1914, Mayrand went by reverse vesting order to 17820721 Canada Inc., which the monitor identifies as a Sobeys and Empire subsidiary. The July 30, 2026 order authorizes payment of both secured creditors; about $6.965 million is held for the unsecured, whose filed claims include $16.662 million from bankrupt sister company Alimplus.
Outcome brief
Ocean View Farms: after a DIP fight with its bank, a $5.35 million sale
The Bank of Nova Scotia asked the court to dismiss the dairy's CCAA application, lost the contest to fund the case, then became its interim lender by agreement. The sale process drew no qualified bid; on July 30, 2026, the court approved a $5.35 million going-concern sale and a $4.5 million interim distribution to the bank.
Outcome brief
Sprucewood Plaza and Thorncliffe: two sales, and ten days to redeem one
On July 20, 2026, Justice J.S. Little approved MNP's sales of two plazas held in receivership on Servus Credit Union's applications, in Spruce Grove and Edmonton, to Gravity Centre companies at sealed prices. The Spruce Grove order was stayed ten days for a redemption; on July 30 the receiver reported receiving no funds sufficient to redeem.
Precedent note
Who gets the pension surplus
Three Ontario insolvency files had to decide who takes the money left in wound-up defined benefit plans. SKD's trustee, discharged in 2016, was reappointed and took 80% of one surplus; DCL's monitor settled for 55% of two; Accuride's monitor had the court approve paying both of its surpluses to the members.
Outcome brief
27 Developments: a later, higher bid for the Hotel Vie site, turned away
On July 29, 2026, Justice Vallee approved BDO's sale, at a sealed price, of an 8.09-acre Vaughan banquet-hall property where 27 Developments had planned the 261-suite Hotel Vie. The receiver said a later, higher offer put forward by counsel for the Parentela family came outside its process and was conditional on financing.
Outcome brief
61-69 Ainslie Street: $6.3 million of the price was released debt
Listed from October 2024, a Cambridge site approved for two towers and 392 units drew no viable offer. On July 29, 2026, Justice Black approved its sale to 61-69 Ainslie Street Ltd. for $7,428,525, $6.3 million of it a release of debt held by Ducimus Capital, over the objection of a $200,000 trust claimant.
2699380 Ontario Inc., Atlantic Development Group Ltd. and 2721259 Ontario Inc.
Outcome brief
AgraCity: two winning auction bids, then UFA's topping bid
The Saskatchewan crop-inputs group's CCAA produced a $48.2 million sale to United Farmers of Alberta, which used its stalking-horse right to top the auction's two winning bids. By July 24, 2026, the monitor had distributed about $10.6 million of roughly $19.6 million in cash, $7,747,683 of it to BDC.
Outcome brief
ClearPier: EDC gets the receiver it asked for before the CCAA
On July 29, 2026 Justice Cavanagh ended the CCAA of two Toronto holding companies and appointed Richter receiver, on the application Export Development Canada, owed more than C$36 million and US$40 million, had brought before they filed. The share sale approved in December was terminated by its buyer in June; the monitor kept his deposit.
Outcome brief
Exprolink: 53 buyers, no binding bid, and a related-party sale of Madvac
PwC Corporate Finance approached 53 buyers for the Saint-Bruno maker of Madvac sweepers and received no binding offer. Eight days after the notice of intention, the court approved a sale, valued at $765,000 plus taxes, to Omega Liquid Waste Solutions, one of whose directors is an Exprolink shareholder; the assignment in bankruptcy came the next day.
Outcome brief
Mera Cannabis: the lender credit-bids $75 million and takes the company
Aggregated Investments, owed $87.65 million, brought the Mera group into the CCAA. With no other final bid in the monitor's sale process, it became Mera's sole shareholder by reverse vesting order, credit-bidding $75 million of its debt; the excluded liabilities passed to a numbered company that went bankrupt on July 27 holding $1.
Outcome brief
Mortise Scott Road: a strip mall sold by reverse vesting order
Alvarez & Marsal sold a Surrey strip mall for $21.5 million by reverse vesting order, which it said let the buyer acquire it by share transaction "without triggering property transfer tax." IMC, the first mortgagee and the buyer's financier, took $20,981,534.09 and was left approximately $900,000 short; A&M was discharged on July 29, 2026.
Outcome brief
Phillips Square: the permits that could not move
Bank of Montreal put four Brivia entities into CCAA in January. On July 28 Justice Pinsonnault approved two reverse vesting orders and one conventional sale — and the reason the structures differ is a City of Montréal construction permit.
Filing brief
Centra: a Surrey tower stopped at six storeys, and a buyer's financing condition
Work on a 24-storey Surrey condominium tower stopped at the sixth storey around August 2024. Its receiver, Alvarez & Marsal, has a new agreement with the owners' February buyer, Chiniki Surrey Tower LP, which has until July 29 to remove its conditions. On July 28 the receiver's borrowing limit rose to $1.5 million.
Centra Limited Partnership, 1119356 B.C. Ltd., and 1138624 B.C. Ltd.
Outcome brief
Crown Crest: the class action settled first, then the leases sold
Peoples Trust took the Simply Green home-equipment rental group into the CCAA while a class action sought to rescind its leases. The class claims settled first; the business then sold for $194,317,120.94. Peoples Trust was owed about $87.4 million at March 31, 2026, and the monitor has concluded unsecured creditors will recover nothing.
Case update
He Yuan: an 8.5% sale that piggy-back rights could turn into 100%
MNP, as receiver, asked for a sale process for He Yuan Investment's 41,600,422 Class B units in the partnership that owns Wealth One Bank, with other unitholders' first-refusal and piggy-back rights stayed. A notice to creditors confirms the July 28 claims process order and a November 16 bar date; no other order from that hearing is in the record.
Outcome brief
Highline Metrotown: KingSett's CCAA around a $7.55 million GST trust
KingSett put the developer of Burnaby's 48-storey Highline tower, already in receivership, into the CCAA to reverse the priority of a $7,551,095 GST deemed trust. After 207 teasers drew no letter of intent, the court approved its credit bid for the shares by reverse vesting order on July 27, 2026.
Case update
Square Nine King George: the Belvedere's proceeds are cleared for its first mortgagees
On July 28 the court authorized FTI to pay Cameron Stephens and an individual lender the net proceeds of the Belvedere units each holds security over, up to the amount owing and secured. The monitor argued the Crown's GST deemed trust does not operate under the CCAA; Square Nine owed approximately $6.0 million of GST at filing.
Square Nine King George Development Ltd. and Square Nine Builders Inc.
Case update
Stantive: a valuation agreed, then a referral to CRA headquarters
The monitor held $1,407,567.18 on July 13, 2026, and its fund tables show no distribution on about $8.2 million of resolved unsecured claims; a CRA dispute over 2017 capital dividends is "holding up the final distributions," Justice Steele wrote in 2024, and on July 28, 2026 extended the stay again, to January 31, 2027.
Outcome brief
Winthorp Valentine: once a month, not once every 72 hours
Thieves broke into a vacant Windsor building for its copper and left a fire behind. The insurer refused the claim because the pre-receivership manager had been inspecting monthly, and on July 28 Justice Horvat approved a sale that leaves TD Bank short.
Case update
District Northwest: no sale yet, so the receiver hires Marcon to rezone
District Northwest presold 873 of its 1,023 planned Surrey condominiums before the November 2024 receivership, and 200 purchasers have since rescinded. With no transaction from the sale process, the receiver has engaged Marcon Developments for an 18-month rezoning and permit mandate, and on July 27 the court raised its borrowing limit from $250,000 to $4,571,000.
District Northwest Limited Partnership and 105 University View Homes Ltd.
Outcome brief
Field Aviation: the release the machinists read
Two of the sixty-six started at Field Aviation in the 1980s. When the sale of the business came with a release for its directors, the IAM did the arithmetic on a $725,000 charge against $1.7 million of severance — and Justice Steele adjourned the vesting order over a weekend.
Outcome brief
FIELDS: $16,700 every Tuesday for 250 weeks
Seventeen days after MNP was discharged from its first proposal, the company that runs the FIELDS stores filed notice of a second, which offers $4,175,000 paid at $16,700 a week, an estimated 62% for unsecured creditors against 29% in a bankruptcy. Creditors voted 63 to 1, and a Registrar approved it on July 27, 2026.